According to the research report titled ‘Practice Management Systems Market to 2027 - Global Analysis and Forecasts By Product; Delivery Mode; Component; and Geography‘, available with Market Study Report, global practice management systems market was valued at USD 3143.76 million in 2019 and is expected to reach USD 6740.84 million by the year 2027, growing with a CAGR of 10.2% throughout.
 

Increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular ailments, obesity, and inflammatory disorders, alongside rising number of patients are driving the growth of global practice management systems market. As per Center for Disease Control and Prevention (CDC), in 2018, more than 9% of the U.S. population was suffering from diabetes which is the major cause of lower-limb amputations and kidney failure. Similarly, IDF Diabetes Atlas 2017 reported that approximately 19% of global diabetic population was housed in Southeast Asia.
 

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Growing inclination towards automation of administrative functions in healthcare sector in tandem with focus towards providing quality care at affordable rate are expected to create ample opportunities for the growth of global practice management systems market. On the downside, lack of advanced healthcare infrastructure in developing countries and the concerns regarding data privacy are expected to restrain the market growth during forecast period.
 

Based on the product type, global practice management systems market is segmented into standalone and integrated. As per the report, standalone systems segment held 67.75% market share in 2019, while integrated systems segment is likely to grow momentously in the coming years.
 

With regards to the delivery mode, the industry is divided into cloud-based, web-based, and on-premise. Among these, web-based segment was a major contributor to the market share in 2019. Cloud-based practice management systems segment is expected to witness tremendous growth through 2027, owing to extensive adoption of the cloud technology.
 

Moving on to component terrain, practice management systems market share from software segment was substantial in 2019 and is expected to continue similar trend in the subsequent years.
 

Regionally, Asia pacific practice management systems market is expected to witness strong growth rate during the forecast period, owing to rise in expenditure towards healthcare-IT in major economies such as Japan, China and India.
 

Key players operating in global practice management systems market are General Electric Company, Medical Information Technology, Inc., Athenahealth, Inc., Henry Schein, Inc., Cerner Corporation, Allscripts Healthcare, LLC, NextGen Healthcare Information Systems, LLC, McKesson Corporation, eClinicalWorks, and Epic Systems Corporation.